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fib. expansion and retrace in forex
- Thread starter shopster
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hi S,
got two questions since I ve start restudying your thread.
On the 2nd page you ve got a usd/cad DB trade. Right before this trade - I marked it in yellow - there is a DT trade. Am I correct? Was that a trade too?
Also what does "t3" and "ssto" means?
Thanks
Athan
got two questions since I ve start restudying your thread.
On the 2nd page you ve got a usd/cad DB trade. Right before this trade - I marked it in yellow - there is a DT trade. Am I correct? Was that a trade too?
Also what does "t3" and "ssto" means?
Thanks
Athan
Attachments
Quote from athan00:
hi S,
got two questions since I ve start restudying your thread.
On the 2nd page you ve got a usd/cad DB trade. Right before this trade - I marked it in yellow - there is a DT trade. Am I correct? Was that a trade too?
Also what does "t3" and "ssto" means?
Thanks
Athan
..............................
A,
you are correct....
t3 ssto is stochastics
indi. download is in this thread.....
s
Quote from shopster:
this is a roll n' puke trade.
anyone wish to comment on the setup for this short........?
the clues to the trade are in the red boxes ......
the exit was the 5.7 fib.
s
S,
I was looking at this chart (attached). I can't see any divergence on the 2nd leg on the DT. Or am I wrong?
I mean stochs on the 2nd leg are uptrend, and macd bars as well.
So why did you short there?
Attachments
..............................................Quote from athan00:
S,
I was looking at this chart (attached). I can't see any divergence on the 2nd leg on the DT. Or am I wrong?
I mean stochs on the 2nd leg are uptrend, and macd bars as well.
So why did you short there?
A,
because it is a " roll n puke" setup.
a shop exclusive.
you are the first person out of 22,000 hits on this thread to inquire.....
98% do not have the cajones to even post up.
they are the fresh meat required for the game to continue.
a db first to a dt
the 2 boxes are marked
a puke to the 4.2 or 5.7
no diverge required....
pure price action
the bears win.
look at your charts , go find a few hundred of them.
the opposite setup also applies...
dt then a db
the buills win.
a reverse puke trade.
here is one in the opposite direction.
entry at the bottom second leg and this one just happens to be diverged.
this trade also happens to be a slingshot back to the money line.
double the horse power.
once it crosses the moneyline the 4.2 is the power leg
the final 5.7 move after the retrace is a weak diverged leg up.
cheers,
s
Attachments
Quote from shopster:
..............................................
A,
because it is a " roll n puke" setup.
a shop exclusive.
you are the first person out of 22,000 hits on this thread to inquire.....
98% do not have the cajones to even post up.
they are the fresh meat required for the game to continue.
a db first to a dt
the 2 boxes are marked
a puke to the 4.2 or 5.7
no diverge required....
pure price action
the bears win.
look at your charts , go find a few hundred of them.
the opposite setup also applies...
dt then a db
the buills win.
a reverse puke trade.
here is one in the opposite direction.
entry at the bottom second leg and this one just happens to be diverged.
this trade also happens to be a slingshot back to the money line.
double the horse power.
once it crosses the moneyline the 4.2 is the power leg
the final 5.7 move after the retrace is a weak diverged leg up.
cheers,
s
S,
I m trying to get in the 2%, even in the 5% (meaning by that winning constantly not millions but just making some good money to live). I hope I will one day.
Today I made one trade on USD/CHF on a DB that worked and gave me 27 pips. I suppose I could get earlier on th .86 but I wait for macd bar to cross the zero line.
I tried to do the same on Euro as well but it didn't work. I hit SL. I m not sure what I did wrong on the Euro since it was a clear divergence on the 2nd leg. I just suppose it was just one of those trades that do not always work. I m not sure how far I should place SL since Risk Reward could became quite big.
I attach both trades. Any comments and advices are really welcome.
Athan
eurusd trade
Attachments
Quote from shopster:
A,
look at the 3 ema lines and price relative to them.
define the trend in your own words, using these 3 lines.
define up
define down
one trade you were correct on and got paid.
why.....?
the other trade was against the trend.
why......?
s
i just realised that eur/usd chart was a 13bar range not a 3 bar range. I m not sure if that makes any difference (i dont think so).
trend is quite easy to spot even without an ema. I mean it can only be up, down or range.
What i had in mind was that when we re in downtrend we re looking for DB to go long and in an uptrend for DT to short.
probably i need to study again on your charts. I ve missed something
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